I had a similar problem, which I may have brought on to myself. I completely tore down and rebuilt my engine. This was my first complete restoral, so I expected problems. From the factory, you should not have this problem, but look anyway to rule it out: Take off the little plate that covers the magneto. With clutch engaged, turn the tooth chain sprocket. The magneto should spin four times faster than the chain sprocket. If the magneto does not spin, the clutch plate is slipping; your engine cannot possibly be making spark if the magneto does not spin. I had to tighten my clutch plate pressure. Let us know; someone can help you some more.
Symptoms include a lot of drag on the pedals, but no "chugging" sounds that the piston makes when it moves up and down. You may have to temporarily pull the sparkplug to get a feel for what "chugging" sounds are like. Then replace the plug and listen for similar sounds.
Also today, I discovered that the primer button on the carb helps start the engine if held down for two or three seconds, not just press and release. And the choke lever is open. My first engine starts after setting for a while were hard to get until I pressed the primer button for a longer time.